Developing countries to account for 46 % of global economic growth

Developing countries are expected to contribute 46 per cent to the growth of the world economy this year, according to the World Bank.

Andrew Burns

The Bank says that the world economy is moving from a post-crisis bounce-back phase of economic recovery to slower but still solid growth this year.

Andrew Burns, Manager of Global Macroeconomics at the Bank says that more countries are growing at strong rates.

“We are seeing more components of demand contributing to growth. All that is very good news. Most of the growth is coming from developing countries. “Their growth rates are almost twice as high as those in high-income countries. As a result, almost 46 per cent of all the growth in the world in 2011 is going to be coming from developing countries. That’s a real encouraging sign both of the health of their economies but also of their increasing role in the world economy.”

However, Mr. Burns cautioned that a debt crisis in Europe has a potential to slow growth throughout the world with negative consequences for developing countries.

(duration: 26″) 

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